China says it initiates WTO dispute procedure against U.S. 301 probe

China says it initiates WTO dispute procedure against U.S. 301 probe

BEIJING (Reuters) – China’s commerce ministry said it has initiated a World Trade Organization dispute procedure against the U.S. 301 tariffs investigation on Wednesday, amid an escalating trade dispute between the world’s two largest economies.

Imports from the U.S. are seen at a supermarket in Shanghai, China April 3, 2018. REUTERS/Aly Song

China earlier on Wednesday said it would impose new tariffs on 106 U.S. products ranging from autos, soybean and whisky worth $50 billion of 2017 imports, countering a U.S. announcement of tariffs on an estimated $50 billion worth of Chinese goods.